I know what you're thinking --- you can't time the market. That's right of course. However, here is a question for you:

I want to invest in a target retirement fund. I'm required to make a $1,000 initial investment to open the account. I am planning to make that initial investment part of my 2012 Roth contribution. Then maximize my 2013 contribution through monthly automatic investments.

I planned to get the account started this week. However, the market is high right now. Does it make sense to wait until the market settles a bit from the Fiscal Cliff issue? When is the next tax reform meeting?

On the other hand, I could try to ignore today's high prices, get the job done and hope for the best.